The naira is trading at about ₦1,321.37 to the US dollar in the latest available official market data, while parallel-market quotes put the dollar at between ₦1,385 and ₦1,410, depending on the source and transaction side.
The Central Bank of Nigeria’s NFEM table, however, shows September 4 as its latest dated trading entry, with an official rate of ₦1,321.2160 per dollar. The September 9 live figure should therefore be treated as the latest available rate rather than a confirmed CBN trading close for the day.
At the official rate of ₦1,321.37, $100 is equivalent to approximately ₦132,137, while $1,000 is worth about ₦1,321,370.
Parallel-market quotes vary across available trackers. NairaToday reports a buying rate of ₦1,385 and a selling rate of ₦1,410 per dollar, while AbokiForex reports a buying rate of ₦1,385 and a selling rate of ₦1,395.
This means a person selling $100 could receive approximately ₦138,500 at the NairaToday buying quote, while purchasing $100 could cost about ₦141,000 at its selling quote. At the AbokiForex selling quote, the same $100 would cost approximately ₦139,500. Actual rates may vary by dealer, location and transaction size.
Using the official rate of ₦1,321.37 and NairaToday’s parallel-market selling quote of ₦1,410, the difference is approximately ₦88.63 per dollar.
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